A hard money loan is simply a short-term loan that is used to acquire investment properties to rehab and either flip for resale or rent.
A hard money loan allows a real estate investor to finance acquisition and renovation costs, which reduces out of pocket expense significantly. Hard money loans also close quickly and have less qualification requirements than conventional loans. These factors allow investors to compete for deals, retain needed capital, and maximize return on existing projects.
Longhorn has a time-tested process with the ability to move quickly and efficiently in order to put our borrower in the best position to succeed.
The standard time to close is 3- 5 business days (depending on location). In some cases we can close in as quickly as 24 hours.
We lend in the major metropolitan areas of Texas, Missouri, North Carolina, Tennessee, and Indiana.
Longhorn will fund the acquisition and renovation costs of your project up to 70% of after repair value (ARV). Click here to see our hard money property criteria.
Easily! Follow the steps here and you’ll be walked through the process. Once your application is reviewed and approved we will send the Pre-Approval letter to you.
Yes. The appraisal will be ordered by Longhorn through an independent third party appraiser.
Yes. Extensions may be granted on a case-by-case basis. Additional fees will apply.